Agriculture
Wool prices still on the rise─── 09:54 Fri, 13 Nov 2015
Bloemfontein - The weak Rand and supply demand pressures are dealing South African wool growers a good hand, with wool prices having increased by an average of 2,5% during this week’s auction.
This is according to CMW Fibre Manager James de Jager in the latest wool market report. De Jager says the outlook is good for wool growers.
He says there are unlikely to be any substantial offerings from Australia, while wool stocks are also low and placing further pressure on demand.
Commenting on the latest auction results, De Jager says super fine-wool of 17 micron and finer, with a tensile strength of at least 38 newtons, gained as much as 4%. He says medium and short wool also remains popular.
De Jager says buyers scooped up 99% of the total offering.
Further details are available in the report.
Source: CMW Wool Market Report
